Saturday, October 19, 2013 / by William Culp
How to Boost Your Home's Resale Value
When it comes to selling your house, time is money. And the more time it takes for your house to sell, the less likely it is that you'll receive your asking price. That’s why it pays to make home upgrades that will boost the appearance and appeal of your house in the current market. These remodeling recommendations from Handyman Connection, for example, can yield important returns when it comes time to sell.
Exterior home improvements give buyers a favorable impression of the home before they even step inside. This is especially important as more and more buyers are making preliminary visits to properties prior to contacting a real estate professional.
Consider the following ideas:
- Replace exterior doors- Entryways, front doors, and garage doors are a focal point for visitors entering your home, so the sharper they look, the more excited buyers will be to see the interior. Plus, replacing a garage door, on average about $1,200, can generate an average resale value of $2,064.
- Renovate landscaping-Cleaning up and landscaping your yard is a fairly inexpensive update that improves the overall appearance of your exterior environment. Landscaping increases the invitingness of your home, whereas lifeless and drooping plants can repel buyers.
- Replace the roof-Though replacing a roof is generally an expensive endeavor, it also leads to big monetary returns. The average reroofing cost ($20,000) can lead to over $30,000 in resale value.
- Repaint the exterior- Exterior paint freshens up the appearance of a house and gives it modernity and that very sought-after curb appeal. If you can't make any other home improvements, the best option is to invest in some paint.
Though well-crafted exterior home improvements entice potential buyers to visit the house, interior improvements turn those potential buyers into new homeowners. These upgrades are known for impressing homebuyers at reasonable costs to the seller.
Install wood flooring-Wood flooring is currently one of the most popular, if not the most popular flooring option for homeowners. But when it comes to resale value, it isn't necessary to go for a custom hardwood option. Laminate flooring for a 1,200-square-foot home, which costs about $4,000, has an average resale value of $8,400.
Repaint the interior- In addition to giving a home a cleaner, sleeker appearance, interior painting in light, classic colors makes every room in your home feel larger and more open.
Invest in kitchen remodeling- Though a kitchen remodel is a costly home improvement project, it also has the potential to significantly increase your resale value. Kitchens and bathrooms are the most important rooms for potential buyers and, therefore, deserve attention when it comes to upgrades.
Bathroom remodeling- Even if your bathroom fixtures and cabinets are a bit older, updating the tile will give the entire space a bright, clean finish. If you would like to do a more complete bathroom remodel, consider upgrading your guest bathroom. Guest bathrooms are usually smaller than master baths, and so require a smaller investment.
As a Member of the Top 5 in Real Estate Network®, our team has a wealth of real estate and home ownership information that may be of help to you. Feel free to contact us any time to learn more about this important information, and be sure to forward this article on to any friends or family that may be interested as well.